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Etihad eyes at least 10pc stake in Virgin Australia
Abu Dhabi, June 5, 2012
Abu Dhabi's flagship carrier Etihad Airways plans to raise its stake in Virgin Australia Holdings to at least 10 percent, Etihad's top executive said, after stating it owns a near 4 percent stake in the Australian carrier on Tuesday.
'At a point in time, we would like to take it (stake) to a minimum of 10 percent, if we get the necessary approvals,' James Hogan, Etihad's chief executive told Reuters.
Etihad, which is on a aggressive expansion drive, acquired a 3.96 percent stake in Virgin Australia through the stock market, it said in a statement.
Hogan also ruled out any plans by the Gulf carrier to buy a stake in Virgin Australia's rival carrier Qantas, which warned of a likely first annual net loss since its privatisation in 1995. -Reuters
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